IL&FS Mutual Fund Boosts Renewable Energy with Rs 125 Crore Commitment

IL&FS Mutual Fund has pledged Rs 125 crore to Hero Solar Energy for refinancing debt and expanding its renewable projects. This enhances IL&FS's renewable portfolio, which includes CleanMax and AD Hydro Power Ltd. The fund is managed by IL&FS Infra Asset Management Ltd and has returned Rs 2,000 crore to investors.

IL&FS Mutual Fund has announced a Rs 125 crore commitment to Hero Solar Energy, a division of Hero Future Energies, aiming to refinance existing debt and aid in the expansion of its renewable energy projects.

Hero Solar Energy plans to issue secured debentures to IL&FS Mutual Fund to mobilize long-term capital. To date, IL&FS Mutual Fund has invested approximately Rs 1,500 crore in renewable energy across India. The investments have generated average returns over 9.5% annually.

The fund includes a diversified renewable portfolio with assets from platforms like CleanMax, AD Hydro Power, and Bhilwara Green Energy, among others. Managed by IL&FS Infra Asset Management Ltd, the fund has returned approximately Rs 2,000 crore to investors, showing effective capital management.